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Insider Cluster (2 insiders) ·Filed Aug 28, 2026

REFI

Chicago Atlantic Real Estate Finance, Inc.
BULLISH
Impact 5/10
Horizonweeks Processed2mo ago
Insider cluster: 2 insiders, $444K total
Actionable Insight ▲ Bullish

The cluster of C-suite open-market purchases, particularly the Executive Chairman's $509K buy, signals insider confidence at current prices. With 73% analyst bullishness and a 30-day insider buying trend, this supports a constructive view. Monitor for upcoming quarterly earnings or portfolio updates that may have prompted the buying.

DirectionBullish
Confidencehigh
Horizonweeks
Latest settled: T+20d ⚠ clustered
REFI ▼ -0.19% at T+20d
LONG call ✗ call lost -0.19% · α vs SPY -0.45% · entry $10.68 → $10.66
Next anchor: T+60d in 26d
Latest observation: T+41 -4.54% FF3 residual α
Entry = T+0 close
Aug 28, 2026
via day close
T+1d
+1.87%
call +1.87% · α +2.17%
$10.88
settled 8w ago
T+5d
+2.53%
call +2.53% · α +2.42%
$10.95
settled 8w ago
T+20d
-0.19%
call -0.19% · α -0.45%
$10.66
settled 4w ago
T+60d
Pending
in 26d

Price Chart

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Executive Summary

Executive Chairman John Mazarakis purchased ~47.7K shares of REFI for ~$509K in two open-market transactions on August 26-27, 2026. Co-CEO Peter Sack also bought 1.5K shares on August 19. The cluster totals ~$525K, representing ~0.19% of the $273M market cap — a modest but notable signal, amplified by C-suite participation and the absence of any offsetting insider sales. This follows a 30-day period of 8 insider buys totaling $1.3M, reinforcing a pattern of insider conviction at current levels near $10.67, which is below the analyst consensus price target.

Key Financial Metrics

Direction
buying
Total Value
$525.0K
Insiders
2

Key Facts

  • Executive Chairman Mazarakis bought 40,181 shares at $10.67 on Aug 26 and 7,530 shares at $10.67 on Aug 27, total ~$509K
  • Co-CEO Sack bought 1,500 shares at $10.53 on Aug 19, total ~$16K
  • Cluster total ~$525K, ~0.19% of $273M market cap
  • No insider sales in the cluster window; 30-day insider activity shows 8 buys totaling $1.3M
  • 73% of analysts rate REFI as Buy/Strong Buy

Financial Impact

~$525K in insider purchases, ~0.19% of market cap

insider ownershipmarket sentiment

Risk Factors

  • Insider buys at ~0.19% of market cap are modest in absolute size and may not reflect a near-term catalyst

Market Snapshot

Exchange
Nasdaq
Sector
Real Estate Investment Trusts
Analyst Consensus
73% bullish (11 analysts)

Investment Themes

Real Estate

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

DocumentAccession Number
CLUSTER Data (Synthetic)cluster-REFI-1787945509228
20 reports for REFI
Performance horizon
33% Hit rate @ T+5 3 of 9 directional calls Went positive at some point 4 of 9 best @ T+20▲ +3.49%Aug 19, 2026
Filters
Rows
Reports for REFI, sortable and filterable
TypeNow
Sep 16, 2026
5w ago
Press Release
NEUTRAL ★ 2/10
$11.01 $10.69▼ −2.91%▼ −4.73%$9.20 (−16.44%)
Aug 28, 2026
8w ago
Insider Buy
BULLISH ★ 5/10
$10.68 $10.95▲ +2.53%▲ +2.42%$9.20 (−13.86%)
Aug 28, 2026
8w ago
Insider Cluster
BULLISH ★ 5/10
$10.68 $10.95▲ +2.53%▲ +2.42%$9.20 (−13.86%)
Aug 25, 2026
9w ago
Insider Cluster
BULLISH ★ 6/10
$10.68 $10.88▲ +1.87%▲ +1.99%$9.20 (−13.86%)
Aug 21, 2026
9w ago
Insider Cluster
BULLISH ★ 6/10
$10.78 $10.68▼ −0.93%▼ −1.40%$9.20 (−14.66%)
Aug 19, 2026
9w ago
Insider Cluster
BULLISH ★ 5/10
$10.61 $10.67▲ +0.57%▼ −0.55%$9.20 (−13.29%)
Aug 11, 2026
11w ago
DEFA14A
BEARISH ★ 6/10
$10.24 $10.37▼ −1.32%▼ −1.72%$9.20 (+10.11%)
Aug 11, 2026
11w ago
425
BEARISH ★ 6/10
$10.24 $10.37▼ −1.32%▼ −1.72%$9.20 (+10.11%)
Aug 11, 2026
11w ago
8-K
BEARISH ★ 6/10
$10.24 $10.37▼ −1.32%▼ −1.72%$9.20 (+10.11%)
Jul 21, 2026
14w ago
Press Release
NEUTRAL ★ 1/10
$10.38awaiting T+5awaiting T+5$9.20 (−11.37%)
Showing 10 of 20

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Report published Aug 28, 2026